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Would you lend your money based on it being “secured” by California real estate over the next few years?

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Would you lend your money based on it being “secured” by California real estate over the next few years?

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Would you lend your money based on it being “secured” by California real estate over the next few years?

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Taking the toys is expensive and most likely not worth the trouble.

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Taking the toys is expensive and most likely not worth the trouble.

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Taking the toys is expensive and most likely not worth the trouble.

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You may be seeing the combined impact of no/low money down loans and California foreclosure laws. People have no incentive to lessen the harm of a decline in prices by dropping their list prices.

Think about two different scenarios:
-You buy 500k$ house with no/low money down to flip, but you apply for your loan with the house as a primary residence. If your house is foreclosed on, it doesn’t matter to you whether the market price after foreclosure is 475k$ or 200k$– in either case, your loss is identical. The only “skin” you have in the game is your credit rating- the bank takes the financial hit. So you list the house above your purchase price, keep paying the teaser rate (which is comparable to rent anyway), and hope that some fool takes it off your hands before your loan resets.

-Compare this with a purchase of a 200k$ house that appreciates to 500k$ and that you now want to sell. All of the sudden, it matters immensely to you whether you sell at 475k$ or 200k$. You actually have some incentive to “chase the market down” and lower your price. A speedy sale becomes important because you actually have skin in the game.

[4runner]

You may be seeing the combined impact of no/low money down loans and California foreclosure laws. People have no incentive to lessen the harm of a decline in prices by dropping their list prices.

Think about two different scenarios:
-You buy 500k$ house with no/low money down to flip, but you apply for your loan with the house as a primary residence. If your house is foreclosed on, it doesn’t matter to you whether the market price after foreclosure is 475k$ or 200k$– in either case, your loss is identical. The only “skin” you have in the game is your credit rating- the bank takes the financial hit. So you list the house above your purchase price, keep paying the teaser rate (which is comparable to rent anyway), and hope that some fool takes it off your hands before your loan resets.

-Compare this with a purchase of a 200k$ house that appreciates to 500k$ and that you now want to sell. All of the sudden, it matters immensely to you whether you sell at 475k$ or 200k$. You actually have some incentive to “chase the market down” and lower your price. A speedy sale becomes important because you actually have skin in the game.

[4runner]

You may be seeing the combined impact of no/low money down loans and California foreclosure laws. People have no incentive to lessen the harm of a decline in prices by dropping their list prices.

Think about two different scenarios:
-You buy 500k$ house with no/low money down to flip, but you apply for your loan with the house as a primary residence. If your house is foreclosed on, it doesn’t matter to you whether the market price after foreclosure is 475k$ or 200k$– in either case, your loss is identical. The only “skin” you have in the game is your credit rating- the bank takes the financial hit. So you list the house above your purchase price, keep paying the teaser rate (which is comparable to rent anyway), and hope that some fool takes it off your hands before your loan resets.

-Compare this with a purchase of a 200k$ house that appreciates to 500k$ and that you now want to sell. All of the sudden, it matters immensely to you whether you sell at 475k$ or 200k$. You actually have some incentive to “chase the market down” and lower your price. A speedy sale becomes important because you actually have skin in the game.

[4runner]

E*trade will let you convert currencies (and buy in foreign exchanges) through their global trading platform.

[4runner]

E*trade will let you convert currencies (and buy in foreign exchanges) through their global trading platform.

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E*trade will let you convert currencies (and buy in foreign exchanges) through their global trading platform.

[4runner]

There is one more factor to consider: the HOA is much more likely to “outsource” basic maintenance that an individual homeowner is. I suspect that HOA expenses are at least 20-30% higher than what an individual homeowner would pay to have done.

If you own your home, you probably think nothing of cleaning your own laundry room, replacing your own light bulbs and batteries in the fire detectors, even raking/blowing your own leaves once a month. An HOA, on the other hand, ends up paying for someone to come and do these things. Since no individual homeowner is responsible for the “commons,” care of the commons is outsourced. This gets expensive.

[4runner]

There is one more factor to consider: the HOA is much more likely to “outsource” basic maintenance that an individual homeowner is. I suspect that HOA expenses are at least 20-30% higher than what an individual homeowner would pay to have done.

If you own your home, you probably think nothing of cleaning your own laundry room, replacing your own light bulbs and batteries in the fire detectors, even raking/blowing your own leaves once a month. An HOA, on the other hand, ends up paying for someone to come and do these things. Since no individual homeowner is responsible for the “commons,” care of the commons is outsourced. This gets expensive.

[4runner]

Grace,

You can also get into Grant if you live in South Mission Hills/Middleton– i.e., west of Goldfinch but South of Washington.

My daughter’s at Grant now– with the exception of one teacher, we’ve been pretty satisfied with the school. As a former magnet school, there is the type of diversity that I desire– namely, kids without a sense of entitlement whose parents value education and have worked to get them into Grant. Nothing like a little hunger to spur that work ethic…

As for high school, some people intentionally opt into sending their kids to the IB program at Roosevelt.

[Author]

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